By Xavier Fontdegloria
Manufacturing orders in the U.S. decreased in July for the first time since September 2021, reflecting cooler demand for goods as the economy slows.
New orders for manufactured goods fell 1% in July on month after increasing by a revised 1.8% in June, according to data from the Commerce Department published Friday.
Economists polled by The Wall Street Journal expected factory orders to increase 0.2% on month.
New orders for manufactured durable goods–those meant to last at least three years–decreased by a marginal 0.1% in July after rising 2.3% in June. The decline in durable goods follows four consecutive monthly increases.
Write to Xavier Fontdegloria at [email protected]
(END) Dow Jones Newswires
September 02, 2022 10:26 ET (14:26 GMT)
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